The course aims to introduce students to the study of microeconomics. The topics covered include the theory of the consumer, the theory of the firm, the analysis of market forms, welfare economics and the lack of markets. In the treatment of these issues students will need to use and gradual learning of some instrument: from the simple analytic treatment and graphical analysis of constrained choice problems, to the resolution of a game in strategic form.

- Introduction: The market.

- Part 1: Households. The consumers’ choice. The demand curves. Price changes and consumer welfare. The family as a source of resources.

- Part 2: Businesses. The firm and its objectives. The technology and production. Costs.

- Part 3: The competitive model. A price-taker firm. The equilibrium in competitive markets. The general economic equilibrium and welfare economics.

- Part 4: The market power. The monopoly. Monopolistic behaviours. Game theory. Oligopoly.

- Part 5: The market failures. Asymmetric information. Externalities. Public goods.

Although not strictly preliminary, taking the General Mathematics exam before attending the course of Microeconomics greatly facilitates the understanding of the formal apparatus used during the course of study and the resolution of the exercises.

- Knowledge and understanding: the student, at the end of the course, will have acquired basic knowledge about the problems of consumers’ choice and firms’ profit maximizations, and the functioning of markets.

- Applying knowledge and understanding: the student will be able to understand the dynamics of the economic variables and policies in terms of market regulation.

- Making judgements: the student will have developed the understanding of economic phenomena and the critical capacity to evaluate the solutions proposed in relation to some issues of economic policy.

- Communication skills: he student will learn to make their economics knowledge with the help of graphs and mathematical tools.

- Learning skills: the student will learn the functioning of economic models and to use them for the solution of economic problems.

The teaching material prepared by the lecturer in addition to recommended textbooks (such as for instance slides, lecture notes, exercises, bibliography) and communications from the lecturer specific to the course can be found inside the Moodle platform › blended.uniurb.it

Seminars and practical exercises.

Teaching

The course consists of lectures and supplementary teaching (exercises) for a total of 60 hours of lessons.

Attendance

It is highly recommended to attend regularly the course.

Course books

Katz M.L., Rosen H.S., Bollino C.A., Morgan W. - Microeconomia, quarta edizione (2011) McGraw-Hill. Capitoli 1, 2, 3, 4 (no 4A.1), 5 (no 5.3, no 5A.2), 7 (no 7.4), 8, 9 (no 9A.3), 10 (no 10.2.2, no 10A.2), 11 (no 11.1.5, no 11.2, no 11.3.2), 12 (no 12A.1, no 12A.2), 13, 14 (no 14.3, no 14.4), 15 (no 15.2.3), 16, 17, 18. Chapters appendixes are included when not expressly excluded.

OR

Katz M.L., Rosen H.S., Bollino C.A., Morgan W. - Microeconomia, quinta edizione (2015) McGraw-Hill. Capitoli 1, 2, 3, 4 (no 4A.1), 5 (chapter available on line at the McGraw-Hill web-site: no 5.3, no 5A.2), 6, 7, 8 (no 8.2.2, no 8A.2), 9, 10 (no 10A.2),11, 12 (no 12.3, no 12.4), 13 (no 13.2.3, no appendexes), 14, 16, 17. Chapters appendixes are included when not expressly excluded.

The exercises are available in pdf format on the website of the course. The web page of the manual provides the solutions to the exercises and additional exercises.

Assessment

The examination in Microeconomics is based on a one-hour compulsory written test. The written test is structured in two parts and consists of 4 open questions and 2 exercises.

The open questions aim to ascertain the student's ability to master the concepts covered during the course and to be able to expose their arguments in a clear and limited time, using a rigorous and punctual formal and graphic analysis. The exercises are designed to ascertain the student's ability to apply theoretical concepts to the solution of economic problems with the help of graphs and mathematical tools.

The evaluation criteria are: the level of mastery of theoretical knowledge, of the graphical and mathematical tools used; the degree of articulation of the answer; the degree of appropriateness of the explanation; the degree of accuracy of graphic and formal analysis.

Based on these criteria each theoretical question will be evaluated on a 5-point scale, and each correct answer is worth 5 points. For the exercises, each exercise correctly done (the numerical result for the year must be the exact one) is worth 6 points. The vote proposed to each student will be obtained by adding the scores obtained in the questions and exercises; then the maximum achievable rating is equal to 32, which corresponds to a 30 cum laude. The exam is considered passed if the student brings an evaluation equal to or greater than 18. The vote may be:

- Rejected by the student; the test must be repeated (possible option for once).

- Accepted by the student.

- Accepted with request for integration in the oral test (which can increase or decrease the script rating). The test results are displayed on the same day or the next day of the test. At the timetable announced during the written exam, students who wish may inspect their proper exam, proceed with registration of the votes for those who accept the vote and take the oral exam for those that require integration.

Disability and Specific Learning Disorders (SLD)

Students who have registered their disability certification or SLD certification with the Inclusion and Right to Study Office can request to use conceptual maps (for keywords) during exams.

To this end, it is necessary to send the maps, two weeks before the exam date, to the course instructor, who will verify their compliance with the university guidelines and may request modifications.

Teaching

Same program of the attending students.

Course books

Same program of the attending students.

Assessment

Same modalities of the attending students.

Disability and Specific Learning Disorders (SLD)

Students who have registered their disability certification or SLD certification with the Inclusion and Right to Study Office can request to use conceptual maps (for keywords) during exams.

To this end, it is necessary to send the maps, two weeks before the exam date, to the course instructor, who will verify their compliance with the university guidelines and may request modifications.

Erasmus students can request to sit the final exam in English with an alternative bibliography to be defined with the professor.